Frazier Financial Advisors LLC Makes New $33,000 Investment in Garmin Ltd. (NYSE:GRMN)

Frazier Financial Advisors LLC bought a new stake in shares of Garmin Ltd. (NYSE:GRMN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 260 shares of the scientific and technical instruments company’s stock, valued at approximately $33,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Aigen Investment Management LP bought a new position in Garmin in the fourth quarter worth $2,267,000. Trexquant Investment LP grew its position in shares of Garmin by 82.1% in the 4th quarter. Trexquant Investment LP now owns 54,383 shares of the scientific and technical instruments company’s stock worth $6,990,000 after buying an additional 24,526 shares during the period. Corient Private Wealth LLC increased its stake in shares of Garmin by 12.4% in the 4th quarter. Corient Private Wealth LLC now owns 11,931 shares of the scientific and technical instruments company’s stock worth $1,534,000 after acquiring an additional 1,319 shares in the last quarter. D.A. Davidson & CO. lifted its position in Garmin by 4.1% during the 4th quarter. D.A. Davidson & CO. now owns 27,827 shares of the scientific and technical instruments company’s stock valued at $3,577,000 after acquiring an additional 1,104 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Garmin by 4.4% during the fourth quarter. Wells Fargo & Company MN now owns 1,291,589 shares of the scientific and technical instruments company’s stock worth $166,021,000 after acquiring an additional 54,001 shares in the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

Garmin Price Performance

Shares of Garmin stock traded down $0.05 during trading on Friday, hitting $162.68. 104,419 shares of the company’s stock traded hands, compared to its average volume of 913,129. Garmin Ltd. has a 1 year low of $99.61 and a 1 year high of $171.64. The business has a 50-day simple moving average of $152.97 and a 200-day simple moving average of $135.45. The stock has a market capitalization of $31.25 billion, a P/E ratio of 22.95, a PEG ratio of 3.58 and a beta of 0.99.

Garmin (NYSE:GRMN) last announced its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.42. Garmin had a net margin of 24.96% and a return on equity of 17.26%. The firm had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the business posted $1.02 earnings per share. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. On average, equities analysts predict that Garmin Ltd. will post 5.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GRMN. Barclays raised their target price on shares of Garmin from $140.00 to $166.00 and gave the company an “equal weight” rating in a research note on Thursday, May 2nd. Tigress Financial boosted their target price on Garmin from $175.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Tuesday, May 14th. JPMorgan Chase & Co. increased their target price on Garmin from $155.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Barrington Research lifted their price target on Garmin from $119.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 22nd. Finally, Bank of America downgraded shares of Garmin from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $165.00 to $150.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $156.83.

Insiders Place Their Bets

In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $146.15, for a total value of $2,192,250.00. Following the transaction, the director now owns 623,834 shares of the company’s stock, valued at $91,173,339.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Susan Lyman sold 2,587 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $135.18, for a total transaction of $349,710.66. Following the completion of the sale, the vice president now owns 7,174 shares of the company’s stock, valued at approximately $969,781.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jonathan Burrell sold 15,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $146.15, for a total value of $2,192,250.00. Following the completion of the transaction, the director now directly owns 623,834 shares in the company, valued at $91,173,339.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 99,476 shares of company stock valued at $14,166,944. Company insiders own 19.54% of the company’s stock.

Garmin Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.